5 June 2018 Current Affairs

Cheapest LNG | MK Jain RBI | Deputy Governor | Guatemala volcano | Maruti Suzuki | 20 million cars |

Posted on Jun 05, 2018 12:38 IST in Current Affairs.

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1) On 4 June 2018 India received its cheapest LNG under a long-term deal from which country? – Russia

Explanation: India got first of its cheapest liquefied natural gas (LNG) consignment from Russia at a delivered price of close to $7 per million British thermal unit (mmBtu) on 4 June 2018.

- LNG carrier ‘LNG Kano’, bringing cargo from Russian gas supplier Gazprom, docked at Petronet LNG Ltd.’s import facility in Dahej on 4 June 2018.

- At current oil prices, the Russian rate is $1.5 per mmBtu less than the price at which Qatar, India’s oldest supplier, delivered LNG. This delivery is part of the historic 20-year import deal with Russian gas major Gazprom. India will import LNG worth an estimated $25 billion over the contract period from Russia.

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2) Who was appointed as the fourth deputy governor of Reserve Bank of India (RBI) by the Union Government on 4 June 2018? - Mahesh Kumar Jain

Explanation: The government on 4 June 2018 appointed IDBI Bank CEO Mahesh Kumar Jain as the fourth deputy governor of Reserve Bank of India (RBI), filling up a post that had been lying vacant for almost a year.

- The post of RBI deputy governor was vacant since S.S. Mundra retired in August 2017. The government had since conducted two rounds of interviews to find his successor. N. S. Vishwanathan, Viral V. Acharya and B.P. Kanungo are the other three deputy governors of RBI.

- Jain will be in charge of RBI’s banking supervisory department which is instrumental in cleaning up the banking system. He had previously led Indian Bank for a couple of years.

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3) What is the name of the active volcano in Guatemala that erupted on 3 June 2018 resulting in death of at least 60 persons? - Volcán de Fuego

Explanation: Volcán de Fuego (which means "Volcano of Fire" in Spanish) is one of the most active volcanoes in the world and is located 44 kilometres from Guatemala City, the capital of central American country Guatemala. The volcano started erupting in the noon of 3 June 2018.

- It was Guatemala's deadliest volcanic eruption since the Santa María eruption of 1902 and resulted in death of at least 60 persons by 4 June 2018. Most of the casualties were reported from places mostly south of the volcano in the towns and villages of El Rodeo, Las Lajas and San Miguel Los Lotes.

- Heavy rainfall during the eruption led to the formation of dangerous lahars (mudflows) which buried several of the affected villages in volcanic material and cut off roadways.

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4) Maruti Suzuki India Ltd. achieved which landmark car production figure during June 2018? - 20 million units

Explanation: Suzuki Motor Corporation (Japan) on 4 June 2018 disclosed that it has achieved cumulative automobile production of 20 million units in India. With this, India became the second country after Japan where Suzuki has reached this milestone. The company crossed this milestone in India with the newly launched Swift produced at the Gujarat plant.

- Suzuki Motor Corp., which started its journey in India through a joint venture with Maruti Udyog, said the country is the fastest to reach 20 million units in 34 years and 5 months since starting production in December 1983, breaking the record of 45 years and 9 months in Japan.

- Suzuki, at present, produces automobiles in India through Maruti Suzuki India Ltd, in which it holds 56.21% stake and fully-owned arm, Suzuki Motor Gujarat that supplies exclusively to the Indian arm. While Maruti Suzuki produces cars at Gurgaon and Manesar plants, Suzuki Motor Gujarat rolls out vehicles from its Mehsana facility in the state.

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